Versigent $VGNT Shares Sold by Douglas Lane & Associates LLC

Key Points

• Douglas Lane & Associates reduced its Versigent stake by 23.9% in the third quarter, selling 62,515 shares and retaining 199,399 shares worth approximately $8.96 million.
• Analysts remain broadly positive, with 11 Buy ratings and three Holds; Versigent has a consensus “Moderate Buy” rating and an average price target of $53.92 versus its recent price of $44.81.
• Versigent exceeded quarterly expectations, reporting $1.92 in EPS versus the $1.58 consensus and revenue of $2.44 billion versus $2.29 billion expected. The company also maintains a quarterly dividend of $0.13 per share, equivalent to a 1.2% yield.

Douglas Lane & Associates LLC trimmed its position in Versigent (NYSE:VGNT - Free Report) by 23.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 199,399 shares of the company's stock after selling 62,515 shares during the period. Douglas Lane & Associates LLC owned approximately 0.28% of Versigent worth $8,961,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of VGNT. Farther Finance Advisors LLC lifted its stake in shares of Versigent by 53.1% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,052 shares of the company's stock worth $47,000 after acquiring an additional 365 shares during the period. GAMMA Investing LLC raised its holdings in Versigent by 54.8% during the third quarter. GAMMA Investing LLC now owns 2,249 shares of the company's stock worth $101,000 after purchasing an additional 796 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new position in Versigent during the second quarter worth about $57,000. Sequoia Financial Advisors LLC acquired a new stake in Versigent in the second quarter valued at about $220,000. Finally, Kintegral Advisory LLC acquired a new position in Versigent during the 2nd quarter worth approximately $224,000.

Analyst Ratings Changes

Several analysts have recently commented on VGNT shares. The Goldman Sachs Group reduced their price target on Versigent from $59.00 to $58.00 and set a "buy" rating for the company in a report on Tuesday. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a $54.00 price objective on shares of Versigent in a report on Wednesday, August 5th. Evercore reissued an "outperform" rating and issued a $65.00 target price on shares of Versigent in a report on Monday, August 10th. UBS Group reduced their target price on Versigent from $58.00 to $55.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Finally, Argus upped their price target on shares of Versigent from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, August 13th. Eleven investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $53.92.

Versigent Price Performance

Versigent stock traded up $0.65 during mid-day trading on Friday, hitting $44.81. 167,899 shares of the company were exchanged, compared to its average volume of 1,619,603. The company has a debt-to-equity ratio of 7.29, a current ratio of 1.40 and a quick ratio of 1.09. The firm has a 50 day moving average price of $46.31. The firm has a market cap of $3.17 billion and a P/E ratio of 23.37. Versigent has a 12-month low of $26.34 and a 12-month high of $50.88.

Versigent (NYSE:VGNT - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $1.92 EPS for the quarter, topping analysts' consensus estimates of $1.58 by $0.34. The company had revenue of $2.44 billion for the quarter, compared to analysts' expectations of $2.29 billion. Equities research analysts predict that Versigent will post 7.23 earnings per share for the current year.

Versigent Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Friday, September 4th. This represents a $0.52 annualized dividend and a dividend yield of 1.2%.

Insider Transactions at Versigent

In other Versigent news, Director Kevin Clark sold 74,130 shares of Versigent stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $45.67, for a total value of $3,385,517.10. Following the completion of the sale, the director directly owned 124,849 shares of the company's stock, valued at approximately $5,701,853.83. The trade was a 37.26% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Versigent Company Profile

Versigent PLC is involved in the design, manufacturing and delivery of low and high voltage power electrical architectures. Versigent PLC is based in SCHAFFHAUSEN, Switzerland.

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